The Steering Committee of the European Bank Coordination (“Vienna”) Initiative expressed it support for Ukraine’s participation in the Vienna Initiative, which was launched at the height of the financial crisis to provide a framework for coordinating the crisis management and crisis resolution of financial sector issues of central, eastern and south-eastern Europe in the area of financial system regulation.

The International Monetary Fund, the World Bank, the Oesterreichische Nationalbank, the Austrian Ministry of Finance and one of the largest European banking Groups have earlier expressed their backing for the NBU’s participation in the Vienna Initiative.

The National Bank of Ukraine has initiated Ukraine’s participation in the second phase of the Vienna Initiative called “Vienna Plus” or “Vienna 2”, which has recently been launched in order to enhance multilateral coordination and develop co-ordinated measures to achieve financial stability and promote regional development.

The Vienna Initiative brings together participants from private and public sectors, international financial organizations (the European Bank for Reconstruction and Development, the European Investment Bank, the International Monetary Fund, the World Bank), EU institutions (the European Commission, the European Central Bank as observer), large cross-border banking groups of different origin and location and large European banking groups operating in emerging countries.